08:39 AM EDT, 09/17/2024 (MT Newswires) -- Brookfield Asset Management ( BAM ) and alternative investment manager Castlelake said Tuesday that they have closed a $1.5 billion strategic partnership agreement.
With the completion of the transaction, Brookfield said it now owns a 51% stake in Castlelake's fee-related earnings, and that its Brookfield Wealth Solutions unit will invest in Castlelake's investment strategies and private funds.